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QBE Insurance
QBE Insurance Group Limited is an Australian multinational general insurance and reinsurance company headquartered in Sydney, Australia. QBE offers commercial, personal and specialty products and risk management products. The company employs around 13,500 people in 27 countries.
QBE was founded in 1886 as the North Queensland Insurance Co in Townsville, by two Scottish migrants, James Burns and Robert Philp, founders of shipping company Burns Philp to insure its ships.
QBE was listed on the Australian Securities Exchange in 1973 from the merger of three companies whose names represent the letters of the combined company, Queensland Insurance, Bankers' and Traders' Insurance Company, and Equitable Life and General Insurance Co., and its founding chairman was J. D. O. Burns.
Since then, QBE has continued to acquire many companies. In 1999 it purchased a 50% shareholding in Mercantile Mutual. In 2004 it purchased the other 50% from ING. In February 2007, it acquired Mexican insurer Seguros Cumbre SA de CV, whose net tangible assets were estimated at $26 million, and American insurer General Casualty Insurance. In 2011, QBE purchased Balboa Insurance of California from the Bank of America.
The organizational structure of QBE Insurance Group is composed of three geographic-based operating divisions, a captive reinsurer (Equator Re) headquartered in Bermuda, an offshore service centre in the Philippines, and various corporate functions located in the group head office in Sydney, Australia.
Headquartered in New York, with offices throughout the United States, North America's insurance portfolio consists of four major divisions:
Headquartered in London, the International division consists of the organisation's European Operations and Asian Operations (Hong Kong, Singapore, Vietnam, and Malaysia). The international division is a leading commercial property, specialty, and multi-national insurance provider with global underwriting capabilities and a major presence in the Lloyds syndicates market.
Headquartered in Sydney, the Australia Pacific division consists of operations in Australia, New Zealand, Papua New Guinea, and various pacific islands. QBE's joint venture in India, QBE Raheja, is also included in the Australia Pacific division for reporting purposes. The Australia Pacific portfolio provides offerings for personal, commercial, specialty and lender's mortgage (LMI) insurance lines.
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QBE Insurance
QBE Insurance Group Limited is an Australian multinational general insurance and reinsurance company headquartered in Sydney, Australia. QBE offers commercial, personal and specialty products and risk management products. The company employs around 13,500 people in 27 countries.
QBE was founded in 1886 as the North Queensland Insurance Co in Townsville, by two Scottish migrants, James Burns and Robert Philp, founders of shipping company Burns Philp to insure its ships.
QBE was listed on the Australian Securities Exchange in 1973 from the merger of three companies whose names represent the letters of the combined company, Queensland Insurance, Bankers' and Traders' Insurance Company, and Equitable Life and General Insurance Co., and its founding chairman was J. D. O. Burns.
Since then, QBE has continued to acquire many companies. In 1999 it purchased a 50% shareholding in Mercantile Mutual. In 2004 it purchased the other 50% from ING. In February 2007, it acquired Mexican insurer Seguros Cumbre SA de CV, whose net tangible assets were estimated at $26 million, and American insurer General Casualty Insurance. In 2011, QBE purchased Balboa Insurance of California from the Bank of America.
The organizational structure of QBE Insurance Group is composed of three geographic-based operating divisions, a captive reinsurer (Equator Re) headquartered in Bermuda, an offshore service centre in the Philippines, and various corporate functions located in the group head office in Sydney, Australia.
Headquartered in New York, with offices throughout the United States, North America's insurance portfolio consists of four major divisions:
Headquartered in London, the International division consists of the organisation's European Operations and Asian Operations (Hong Kong, Singapore, Vietnam, and Malaysia). The international division is a leading commercial property, specialty, and multi-national insurance provider with global underwriting capabilities and a major presence in the Lloyds syndicates market.
Headquartered in Sydney, the Australia Pacific division consists of operations in Australia, New Zealand, Papua New Guinea, and various pacific islands. QBE's joint venture in India, QBE Raheja, is also included in the Australia Pacific division for reporting purposes. The Australia Pacific portfolio provides offerings for personal, commercial, specialty and lender's mortgage (LMI) insurance lines.